India's fiscal deficit stood at Rs 4.55 lakh crore during April-July, accounting for 26.8% of the full-year target for FY27, government data showed on Monday.
The fiscal deficit during the corresponding period a year ago was Rs 4.7 lakh crore. The government has pegged its fiscal deficit target for FY27 at 4.3% of GDP, or Rs 16.96 lakh crore.
Government finances received a boost from higher tax collections. Net tax receipts rose to Rs 8.5 lakh crore during April-July, compared with Rs 6.6 lakh crore in the year-ago period. Non-tax revenue increased to Rs 4.2 lakh crore from Rs 4 lakh crore.
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On the spending side, total government expenditure rose to Rs 17.6 lakh crore, up from Rs 15.6 lakh crore a year earlier.
Capital expenditure, or spending on infrastructure and other long-term assets, also increased sharply. Capex stood at Rs 4.5 lakh crore, compared with Rs 3.5 lakh crore in the same period last year.
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